In the realm of film--specifically, indie film and short film, it refers to anything that is so obnoxiously unique, preachy, or hipster-ish that a hipster would surely have a heart attack or leave a love stain in his/her pants.
"Oh. My. GOD. Have you seen Scott Pilgrim Versus the World? It's the greatest movie ever! Michael Cera is SO cute!"
"Yeah, I saw it. Looks like a bunch of hipster porn to me."